highlights • Median prices increased for all home types between November and December 2019: by 6% for detached homes, by 3% for townhomes, and by 0.2% for condos. For the detached segment, this was the largest month-over-month increase in prices since September 2017. • On the back of this increase in detached median prices, the detached-to-townhome price ratio, at 1.82, reached its highest level since January 2018; the townhome-to- condo price ratio also increased, to 1.32. This trend points to market conditions that are becoming more favourable to downsizers and less favourable to those who are upsizing. • On a year-over-year basis median prices rose 5% for detached homes and 1.7% for condos, while falling 3% for townhomes.
median prices THE RENNIE ADVANCE
DECEMBER 2019
$1,600,000
$1.42 M
December
$1,200,000
vs Nov 2019 6%
$800,000
vs Dec 2018 5%
DETACHED median sales price
$400,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
$1,000,000
December
$778,000
$800,000
$600,000
vs Nov 2019 3%
$400,000
TOWNHOME median sales price
vs Dec 2018 3%
$200,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
$800,000
December
$590,000
$600,000
vs Nov 2019 0.2% vs Dec 2018 1.7%
$400,000
CONDO median sales price
$200,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Copyright © 2019 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 2, 2020. All data from RealEstateBoardof Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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